Dubai: Dubai’s focus on competitiveness and sustained investment in infrastructure has produced rich returns for the businesses. Various business setups, growing links to new markets and growth options in the emirate are attracting more investors to leverage these advantages.

With buoyant and growing sectors of the global economy, a resilient economy and an infrastructure that is second to none, the UAE is arguably the most competitive nation bidding for Expo 2020.

“The scale of change is truly incredible. Comparing to four decades back, now it [the UAE] is one of the world’s most modern urban landscapes, linked by multi-lane highways. And it also has the only driverless Metro system in the world,” said Mohammad Shaal Al Saadi, Chief Executive Officer of Business Registration & Licensing (BRL) sector in DED (Dubai Department of Economic Development).

“Confidence in Dubai is rising. Business registration and licensing activity in 2012 mirrored an increasingly positive investor sentiment and expectations. While existing businesses in Dubai are venturing out and spreading their wings, a growing number of investors are also sensing the ideal conditions to step forward,” he added.

The UAE has developed both soft and hard infrastructure — including schools, universities, medical clinics and hospitals, as well as roads, ports and airports.

Historically, while the UAE was a trade and an investment hub, it was also critical to the country’s success that it attracted foreign companies.

Today most of the major firms in the world have a base in the UAE, Al Shaal remarked.

“While a high concentration of multinationals use the emirate as a regional headquarter, a big number of major companies worldwide have a base in the UAE and many others in the pipeline,” he said.

There are almost 300,000 companies registered in Dubai so far.

On monthly basis, the DED is recording an average of a thousand new registered companies in Dubai, excluding the free zone areas.

Last year alone, Dubai recorded 16 per cent increase in the number of new companies which reached 16,688.

This focus on business and legal infrastructure development has supported the country’s growth over four decades, and will be key to its global competitiveness.

Al Shaal highlighted that the DED is always working to facilitate businesses in Dubai by upgrading its services and make it easier to end users.

“Today, there is no burden to issue a company licence in Dubai. We did eliminate all bureaucracy as business owners can finalise most of their transactions online or through the business centre saving a physical visit to the department,” he said.

Today, it will not take business owners more than three days to start-up their businesses officially in Dubai.